T-bills oversubscribed by 23.5% as investor confidence surges

Investor confidence in Ghana’s treasury market has surged following the successful completion of the fifth review of the country’s programme with the International Monetary Fund (IMF).

According to trading results released by the Bank of Ghana, treasury bills were oversubscribed by 23.5 per cent, marking a strong return to investor appetite after two consecutive weeks of undersubscription.

The government targeted GHS5.269 billion but received bids totalling GHS6.507 billion. Of this, GHS6.33 billion was accepted.

The 91-day bill attracted the bulk of investor interest, accounting for a little over 83 per cent of total bids.

Approximately GHS5.415 billion was tendered, with GHS5.409 billion accepted.

For the 182-day bill, bids amounted to GHS941.71 million, with GHS786.71 million accepted.

The 364-day bill saw GHS150.4 million in bids, of which GHS140.4 million was taken up.

In terms of yields, the 91-day bill rose by 6.0 basis points to 10.53 per cent.

The 182-day bill dipped slightly to 12.30 per cent from 12.35 per cent the previous week, while the 364-day bill climbed by 9.0 basis points to 12.87 per cent.